- CA Betty D’souza guides us on How To Pursue CPA in Australia after completing CA in India.
- She moved to Melbourne, Australia in November 2015.
- Prior to this, Betty was working at ICICI Bank (India) for 10 years as the CFO for the SME Group.
- At the moment she is associated with National Australia Bank Limited (NAB) in Melbourne. She is also a qualified CPA in Australia.
CPA Australia
CPA Australia pathway has something called a – Foundation Program. Only after the Foundation Program, the main CPA Program starts.
On completion of the CPA Foundation Program, one becomes an Associate Member and on completing the CPA Main Program one becomes a qualified CPA.
The Foundation Program:
- The Foundation Program aims to impart the basics and covers 6 major areas (which are further divided into courses) including Economics, Accounting, Business Law, Finance, Financial Accounting & Reporting, and Management Accounting.
- Depending on whether you have a graduate degree in accounting & finance, overseas graduates will have to appear for a few courses of studies within this.
- The foundation exams cover the knowledge required to become an Associate member of CPA Australia. They can be taken in any order, at your choice of exam location and time.
CPA Program:
- Subsequent to the successful completion of the Foundation Program, you become an Associate member of CPA.
- After the completion of the Foundation Program, the main CPA Program starts.
- The CPA Program consists of 4 compulsory subjects + 2 electives + an experience component.
- The CPA Program, like any CPA program, is extensive. There is a mandatory work experience component of 23 months.
- Subsequent to the successful completion of the CPA Program requirements, you become a CPA in Australia.
Mutual Recognition Agreement between CA India and CPA Australia
I decided to clear CPA Australia after moving to Australia as CPA Australia holds a higher value than a CA degree from ICAI. Getting a CPA in Australia surely helps on the job front as well.
There is CA ANZ as well. I chose CPA as it was easier to clear because of the mutual recognition agreement with ICAI. But now CA ANZ has become easy as well with the recent mutual agreement with ICAI.
Thanks to the Mutual Recognition Agreement (MRA) between the Institute of Chartered Accountants of India (ICAI) and CPA Australia – Only 2 additional subjects are to be attempted and cleared within 2 years of the date of your admission as an Associate member.
Upon successful completion of both subjects, you will automatically advance to CPA status. You will receive a CPA certificate and will then be eligible to use the CPA designation.
The 2 subjects are:
- Global Strategy and Leadership: In this subject, you will use strategic analysis to address complex business issues in a competitive and uncertain business environment. This requires logical thinking and is a bit tough to clear, but not impossible.
- Ethics and Governance: This is an online exam. Recommend you complete this subject first. Learn the application of ethical principles, together with a strong knowledge of key corporate governance principles and mechanisms.
In Conclusion…
- CPA Australia took me 10 months as I appeared for one paper at a time. But one can do this within 6 months as well if dedicated time can be set aside for studies.
- As mentioned above, the 2 additional subjects can be cleared easily with proper planning and with self-study.
- However, there are classes available to familiarise me with the exam format which is pretty good such as Knowledge Equity and PDL Academy.
- There is CA ANZ as well. I chose CPA as it was easier to clear because of the mutual recognition agreement with ICAI. But now CA ANZ has become easy as well with the recent mutual agreement with ICAI – she concluded.
